Virtusa Co. (NASDAQ:VRTU) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $43.83 and traded as high as $44.53. Virtusa shares last traded at $44.24, with a volume of 3,746 shares.
Several research analysts have recently commented on VRTU shares. ValuEngine upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Prothena in a research report on Thursday, May 16th. BidaskClub lowered Zogenix from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Zacks Investment Research lowered Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Finally, Barrington Research set a $5.00 price objective on U.S. Auto Parts Network and gave the company a “buy” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $56.83.
The company has a market cap of $1.32 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.71 and a current ratio of 2.71. The business’s 50-day moving average is $43.90.
Virtusa (NASDAQ:VRTU) last released its quarterly earnings data on Wednesday, May 15th. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.06). The company had revenue of $327.60 million for the quarter, compared to analyst estimates of $330.91 million. Virtusa had a net margin of 1.29% and a return on equity of 11.81%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, equities analysts anticipate that Virtusa Co. will post 2.01 earnings per share for the current year.
In other Virtusa news, CEO Kris A. Canekeratne sold 12,000 shares of Virtusa stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $55.05, for a total transaction of $660,600.00. Following the sale, the chief executive officer now owns 585,117 shares of the company’s stock, valued at approximately $32,210,690.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kris A. Canekeratne sold 7,500 shares of Virtusa stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $54.97, for a total value of $412,275.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,500 shares of company stock worth $1,956,585 in the last ninety days. 5.11% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in VRTU. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Virtusa in the second quarter valued at about $244,000. Bessemer Group Inc. grew its stake in Virtusa by 64.6% in the second quarter. Bessemer Group Inc. now owns 13,500 shares of the information technology services provider’s stock valued at $600,000 after purchasing an additional 5,300 shares in the last quarter. Gradient Investments LLC grew its stake in Virtusa by 89.1% in the second quarter. Gradient Investments LLC now owns 22,726 shares of the information technology services provider’s stock valued at $1,010,000 after purchasing an additional 10,706 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Virtusa in the second quarter valued at about $255,000. Finally, Scout Investments Inc. grew its stake in Virtusa by 102.7% in the second quarter. Scout Investments Inc. now owns 138,554 shares of the information technology services provider’s stock valued at $6,156,000 after purchasing an additional 70,215 shares in the last quarter. 87.98% of the stock is currently owned by hedge funds and other institutional investors.
About Virtusa (NASDAQ:VRTU)
Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.
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